1/08/2011 04:22:00 PM
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NCDEX Review for the Day
• Guar prices closed above its 10-Day EMA and at its 20-Day EMA indicating a bullish trend.
• 14-days RSI is at 48.49 and is in neutral region.
• MACD is in the positive territory.
Guar futures may trade range bound on Saturday due to arrival pressure amidst normal demand. Arrivals would continue in the coming week at the same pace. In the medium term trend would depend on final crop estimates of Guar by the state farm department and the demand from the overseas markets. Movement of Indian Rupee against US dollar and the trend in crude oil prices would also influence Guar futures in the long run.
• Chana prices on daily charts closed near its 10-days and its 20-days EMA, indicating a sideways trend.
• 14-days RSI is at 50.46 and is in neutral region.
• MACD is in the negative territory.
Chana prices may recover in the intraday on reports of delay in harvesting in Maharashtra. In the short to medium term (1-2 week), price gains may be capped on positive reports of sowing and fresh arrivals from Karnataka. Long term trend in Chana futures may depend on the reports sowing of Rabi Pulses which is presently expected to be higher due to increase in MSP of Pulse. Also, weather during the crop development period may be crucial for the deciding the further
trend of Chana futures.
• Prices closed above its 10-Day and its 20-Day EMA indicating bullish trend.
• The 14-Day RSI is at 54.6 and is in neutral region.
• MACD is in the positive territory.
Pepper prices in the intraday are expected to trade range bound due to lacklustre trades at the domestic market. In the short term (till mid of January), Pepper prices will depend on global Black pepper availability and demand from the overseas and domestic market. In the medium to long term (January end onwards), price trend will depend on demand from the overseas and domestic market, pepper stocks with major producers and Black pepper production
estimates of in India and Vietnam of 2011.
• Prices closed below its 10-Day and its 20-Day EMA indicating bearish trend.
• The 14-Day RSI is at 51.5 and is in neutral region.
Turmeric prices in the intraday are expected to trade range bound to firm due to improved buying by the market participants. Prices in short term (till mid of January), will depend on demand from the domestic and overseas buyers and growth of sown crop. In medium to long term (January end onwards), prices is likely to take cues from the turmeric stocks and production estimates reported by the spot market participants.
• Prices closed below its 10-Day and its 20-Day EMA indicating bearish trend.
• The 14-Day RSI is at 50.4 and is in neutral zone.
• MACD is in the positive territory.
Jeera prices in the intraday will trade sideways to down due to lacklustre trades at the domestic market. In the short term (till mid of January), trend will depend on jeera price parity of various origins in international market and stocks of jeera with local stockists. In the medium to long term (January end onwards) prices are likely to take cues from demand from the overseas and domestic buyers and production estimates in India.
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